A buys an article and sells it to B at a profit of 10%, B sells it to C gaining 20%. If C gives Rs. 924, what did A give?
Explanation:
Let cost price of A be (CP)A, of B be (CP)B and that of C be (CP)C.
Similarly, selling prices be designed as (SP)A ; (SP)B and (SP)C
If (CP)A = x
Then, (CP)B = (SP)A = 1.1 x
(CP)C = (SP)B = (1.2) (1.1) x = Rs. 924 ⇒ x = Rs. 700
Hence, option (b).
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